Hardy: Why the euro's set to fallJohn J Hardy
The euro's rallied fairly strongly over the past few weeks but it's definitely headed lower by year's end. That's according to Saxo Bank's Head of FX Strategy, John Hardy. Hardy believes the key will be the German elections in September. After that, he says, we should have a much clearer direction as to the future of the European project. John expects more activism from the European Central Bank and that will be bearish for the euro.
The British pound has also had a strong run recently but John doesn't see that continuing. Despite some optimistic news of late, he says the structural situation in the UK economy is "quite ugly"
On Friday, September 13, Saxo Capital Markets brings together leading political figures and financial analysts to discuss the future of the Eurozone and the single currency. The event, #TradingDebates – The end of the Euro as we know it (http://www.tradingdebates.com), will be hosted at Bloomberg's European Headquarters in London.
Saxo Capital Markets extends an invitation to all parties interested in attending this free event. For more information (including the full programme) and to register your interest, visit: http://www.tradingdebates.com